The origins of Royalty Pharma can be traced to the 1980s when certain members of the Company’s management and Investment Committee pioneered the use of royalty interests to fund the clinical development of some pioneering biotechnology products such as Amgen’s Neupogen. Subsequently, these members formed two ‘proof of principal’ investment vehicles to acquire the royalty interests and hold them as investments.

Since inception in 1996, through predecessor entities Royalty Pharma has purchased royalties in ten leading marketed biopharmaceuticals: Amgen’s Neupogen/Neulasta®, Genentech’s Rituxan®, Celgene’sThalomid®, Lilly’s and Centocor’s ReoPro®, Centocor’s Retavase®, Chiron’s TOBI®, Norvartis’ Simulect®, Roche’s Zenapax®, Ligand’s Targentin capsules and Bristol Myers’ Zerit. These products generated more than $5 billion in worldwide sales in 2004 and as a group continue to grow at a significant pace. In addition, the Company has purchased the royalty rights of four products that are in late-stage clinical trials: Entereg, Lasofoxifene, Bazedoxifene and Variza.